Desk By karuna
The Nepal Bangladesh Bank and Nabil Bank have formally merged, establishing an integrated business. The two banks announced they will conduct integrated financial operations under the name Nabil Bank Limited on Monday during a special program held in Kathmandu. With Nepal Rastra Bank’s approval, Class A licensed Nabil Bank Limited acquired Nepal Bangladesh Bank Limited. Nabil Bank has now acquired all the assets and liabilities of Nepal Bangladesh Bank as a result of this acquisition. Nabil Bank CEO Upendra Poudel said during his speech that the bank will continue to lead the industry in terms of profits. He made it clear that the bank should protect the rights and interests of depositors and investors in addition to its own financial interests.
With the merger, Nabil Bank Limited, that has a total paid-up capital of Rs. 28.57 billion, has become the largest bank. The merger had already received final approval at a board of directors meeting of both banks held on June 29.
